Australian Tax Office data reveals top 10 highest paying jobs
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CEOs and architects have been dropped from the top 10 highest-earning professions in Australia and replaced by engineers and financial advisors.
It comes as doctors, psychiatrists and lawyers criss-cross the list of the country’s highest-earning careers in the latest 2019-20 tax return data from the Australian Internal Revenue Service.
Daily Mail Australia looks at the top 10 highest paying careers in Australia.
Surgeons have been Australia’s highest paid professionals since 2010
1. Surgeon, $406,068
Surgeons top the list for the 12th consecutive year with an average salary of $406,068, just over $394,000 from the previous fiscal year.
Those who choose to specialize earn significantly more among neurosurgeons who are paid the highest at $600,387, followed by reconstructive surgeons ($500,269) and ophthalmologists ($533,511).
They all earn more than Prime Minister Anthony Albanian, who deserves $549,250 per year.
Plastic surgeons earn an average of $475,081, while cardiac surgeons earn $464,243.
2. Anesthesiologist, $388,814
There are 3,500 anesthetists in Australia, earning an average of $388,814 a year, compared to $386,065.
Anesthesiologists prepare patients for surgery and assist with everything from pain relief to surgery preparation to implementing a patient care plan before, during, and after the procedure.
3. Internal Medicine Specialists: $310,903
Internal medicine specialists remain in third place, but earn more than $6,000 from 12 months earlier.
They are trained to diagnose, manage, and treat complex, sometimes complicated, or difficult-to-diagnose health disorders, and often work in coordination with other medical professionals.
Fourth on the list are financial dealers who earn an average of $275,984. Pictured are indicator boards at the Australian Securities Exchange
There are some surprising newcomers and omissions in Australia’s top 10 highest paying jobs
4. Financial Dealers: $275,984
Financial dealers analyze social trends, market conditions and government regulations, and also analyze and interpret the financial conditions of their customers to buy and sell commodities at a profit.
If the lucrative salary attracts you, you will need a degree in commerce, accounting, finance or economics and you will need to apply for a license from the Australian Securities and Investments Commission to trade as a financial trader.
5. Psychiatrist: $252,691
Psychiatrists rounded out the top five and recorded one of the biggest jumps in median salaries, from $235,558, $235,558.
Psychiatrists specialize in diagnosing and treating mental illness, through psychotherapy, preparing treatment plans, ordering laboratory tests and assessments, prescribing drugs, and hospitalizing patients.
6. Other Doctors: $232,903
This includes other medical professions that are not in the top five, such as general practitioners, dentists, orthodontists, periodontists and midwives.
These professionals earn an average of $10,000 more than in previous data.
But due to the diverse areas covered, the salaries of these medical professionals vary.
Specialists such as cardiologists, orthopedic specialists and gastroenterologists, with a combined average salary of $450,000.
Mining engineers remain Australia’s eighth highest paying job, rising from an average salary of $184,507 to $188,083
Chief executives/managing directors and enterprise architecture managers dropped out of the top 10 to be replaced by engineer managers (pictured) and financial investment advisor/managers
7. Legal or Other Legal Professionals, $189, 538:
This includes a wide range of professions within the legal sector, from everyone such as judges, lawyers and attorneys to paralegals and administrative assistants.
But salaries vary widely depending on the job and the individual companies.
8. Mining Engineer: $188,083
With a previous average pay package of $184,507, mining engineers are responsible for evaluating, planning, and overseeing the construction of a mine.
They identify potential development sites by collaborating with geologists and conducting surveys of the mineral deposits, as well as coordinating actual employment of personnel and implementing safety programs and procedures.
They also ensure that mines are restored to their original state once mining is complete.
They usually pursue an engineering degree and become a professional mining engineer after two years of graduating
With an average salary of $161,514, tech managers have moved up three places to be ranked in Australia’s top 10 highest paying jobs
9. Engineering Manager: $161,514
This field has moved up three places in the top 10 after the median salary rose slightly from $159,940.
Engineering managers are generally responsible for planning engineering operations, civil engineering, and construction projects, depending on the company or agency they are employed by.
Day-to-day responsibilities include budgets, schedules and the development of quality and safety procedures, as well as overseeing hiring, coordinating activities and liaising with other heads of department.
10. Financial Investment Advisor/Manager, $155,882
This career jumped at least five places to crack the top 10 list.
Financial Investment Managers collaborate with other financial professionals, such as analysts, to research and plan client investment portfolios.
They also advise clients on investment strategies such as stocks and bonds, retail or mutual funds, pension funds, real estate and equities to maximize financial returns.
They work in a wide range of fields from financial services to real estate.